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, november 19th. i'm angela miles. in today's first look: a better tone out of washington is giving a lift to the stock market. the market made gains on friday, but it wasn't enough to wipe away losses for this week. in market action last week, the dow fell 1.8%, the s&p was down 1.5%, and the nasdaq edged lower by 1.8%. president obama is still traveling in asia today, where he is calling for continued political reforms. american pilots will vote again on a contract offer from the airline, which remains in bankruptcy. the pilots rejected a previous offer in august. and a quick check of gas prices shows the price of a gallon of unleaded dropped a couple of pennies last week, but is down dramaticaly from a month ago. let's get some trader thoughts now from scott bauer of trading advantage. happy monday morning to you scott. > > good morning angie. > > there is a lot of talk about this fiscal cliff as you know. but i am hearing that traders really believe there is already a backroom deal in the works. > > you know, that is what they say, and i tend to agree with that. there is no way, it's j
. there are lots of rumblings coming out of washington. let's turn to scott bauer of trading advantage to talk about this alleged fiscal cliff. what do you think - and good morning - deal or no deal, scott? > > good morning angie. yeah, there is going to be a deal. it may not be later this week, it may not be next week, but i think at a minimum we are going to see congress, the president, everyone say, you know what, we are on the table together here, and even if we have to extend this three months, six months, we are going to get it done. there is no way with the recovery that we have seen - and i'm not talking about the stock market recovery, i am talking more of the consumer sentiment recovery, housing recovery - with what we have seen the last quarter of this year, there is no way that the guys in washington can harm that or add anything to take the momentum away from that. it just won't happen. > let's talk about the stock market. what levels are you watching here? > > 1390 really held yesterday, during the sell-off in the morning. that is a real near- term support in s&ps. i think in the
. >>> lawmakers return to washington today with just 35 days until the "fiscal cliff" happens. and believe it or not, airlines are trying to keep queue on time. we'll explain now. >>> first business starts now. >>> you are watching first business. >>> good morning, it is monday, november 26, i am bill, so, did you survive black friday and welcome to super mondays. the holiday shopping season is now if full swing. we are going to spend more the last few weeks of the year than last year. remember tomorrow is giving tuesday. consider what you might do. >>> 35 days now for congress to solve that little impasse . this week they are going to try to make a deal. and is europe just buying greece? today finance minterred meet again to talk about releasing more billions your rows. >>> and now tim, he is the managing partner, so, tim, the eu, they are met meting again today and it still looks like they need money to go to greece. how much are traders going be paying attention to this? >> well, i think it is going p quite a bit of attention because it is a critical issues. and after three years of res
for washington. can two sides of the aisle reach an agreement on one plan? the unemployment rate for veterans is dropping. what sectors are hiring the most heros. plus, apple devices are getting more complex to make. why it could mean a longer wait for apple gadgets. and, how superstorm sandy could affect home depot stock this week. keep it here, first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's monday, november 12. i'm angela miles. in today's first look: stocks drop. the dow & s&p 500 fell 2% last week. some traders say it was just good old profit taking. others believe the fall was out of fear of the looming fiscal cliff. the market could have a heavy metal reaction today to a deal that was announced late friday. precision castparts is buying titanium metals for $2.9 billion in cash. in the "affairs to remember" category, christopher kubasik, who was on his way to becoming the ceo of lockheed martin, resigned after revealing an affair with an employee. cia director david patraeus also resigned friday becau
and investers are feeling better about the possible ending for the cliff hanger in washington. they were buying the market with both hands on monday, leaving green arrows pointing higher across the screen for stocks and commodities. federal reserve chair ben bernanke speaks today at a new york economic club meeting. he's expected to talk about monetary easing and the economic recovery. eurozone leaders meet today to talk about bailout funding for greece. and the world bank says more droughts are likely world-wide as global temperatures continue to rise. violence is ratching up in the middle east. john brady of rj o'brien joins us now for a look at the trading day from cme group. good to have you on the show this morning. > > thank you much. > > oil prices were higher yesterday by almost 3% during the session at one point. is the middle east the main driver behind the move? > > i don't think so actually. i think the the strength in crude was mirrored by strength in other commodities as well, and specifically risk assets had a super day on monday with the idea that over the course of the weekend
look: a buyer's bounce: despite rehtoric out of washington, investors are buying stocks. the dow is now up for the week. gains were also made across the board. the cbo reports the debt limit is okay for now. the treasury has the money to fund the government up to march of 2013. speculation is building t-mobile may start selling apple iphones next week. a campaign called "fast food forward" is happening in new york. employees are planning walkouts at burger king, kfc and taco bell. they want pay hikes up to $15 per hour and the right to form a union. we are here to serve up some information about the market. tim mulholland of china-america capital joins us now. good morning to you tim. it is the final trading day of the month. what do you anticipate? > > i think more of the same we've been seeing. the market seems to think it has a lot of resilience. we bounced earlier this week off of the 200-day moving average. s&p down around 1382-3 level. we are now near the post-election highs, which, end-of-month buying, typically book-squaring and so forth, typically leads to higher prices, so i
Search Results 0 to 5 of about 6

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